Nova Scotia Fiscal Review Report Released
Deloitte Phase Two Report Released
The province has received the final report of the Deloitte review of Nova Scotia’s finances.
The Province of Nova Scotia Financial Review – Phase 2 looks at technical questions related to accounting and budgeting in government departments and third-party agencies.
The report completes the work of consultants from Deloitte, who released findings of the first phase of their independent review on Aug. 17.
Areas studied in phase two include:
– the feasibility of separating capital and operating budgets
– accounting options for government operating grants or other funding to boards and agencies
– options to resolve the Auditor General’s qualification and scope limitation related to budgeting of third-party revenues
– options to improve the timeliness and approval processes for grants and business plans for district health authorities and regional school boards
Deloitte consultants made recommendations on each issue. Overall, they said government accounting should continue to comply with generally accepted accounting principles as expressed by Public Sector Accounting Board guidelines.
Finance Minister Graham Steele said government will consider the options presented as it moves forward with the next budget.
The Deloitte Phase 2 report is available at www.gov.ns.ca/finance .
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